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Industry

SpaceX puts IPO funds into AI infrastructure and safe assets, not bitcoin

SpaceX has allocated funds raised after its IPO to AI infrastructure and short-term safe assets rather than increasing its bitcoin holdings, a report said. The company boosted money market funds and government securities while keeping bitcoin holdings at 18,712 BTC. It spent $15.83 billion on AI infrastructure in the second quarter. Concerns persist over rising AI spending and potential share sales by insiders, alongside elevated short interest and derivatives activity.

Crypto

White House reviews ethics wording in Clarity Act as weekend seen as final test

The U.S. Senate’s cryptocurrency market structure bill, the Clarity Act, has entered a White House review stage, keeping alive the chance of a late vote. With the Senate nearing recess, lawmakers face a tight window to reach agreement. Revised ethics language has been sent to the White House for internal review, while Senate leaders have yet to set a clear schedule. The timing of a cloture motion is seen as decisive for a weekend vote.

Crypto

Tom Lee warns 35 percent of bitcoin supply could be exposed to quantum threat within 3 years

A warning has emerged that about 30 to 35 percent of bitcoin’s total supply could be exposed to quantum-computer attacks in 2028 to 2029. Fundstrat co-founder and Bitmine chairman Tom Lee said quantum computing could undermine bitcoin’s existing security system. He said the crypto industry has no unified response, while the Ethereum and Solana ecosystems are better prepared. Adam Back disputed Lee’s technical claims, saying bitcoin ownership is protected by ECDSA digital signatures and seed-phrase entropy.